News Article | 12/14/2005

YOO gains stake in Victory condo project

Property development company YOO said Wednesday that it has reached an agreement giving the company a 25 percent stake in a condo project in Hillwood’s Victory development.

YOO already is designing the residential interiors and common spaces for “The House,” a 28-story condominium project that will consist of 150 residences and 30,000 square feet of retail space on the ground level, including an upscale market, restaurants and boutiques.

The building is designed by YOO UK ltd., a London-based design, branding and marketing company run by renowned designer Philippe Starck and developer John Hitchcox.

Victory is a $3 billion-plus, 75-acre urban district in Uptown, adjacent to the West End district of downtown Dallas. At full build-out, the project will contain more than 4,000 residences and 4 million square feet of office and retail space.

Other residential components at Victory include The Vista, a 125-unit apartment complex, and The Terrace, a 95-unit condominium project. All three should be ready for occupancy in late spring 2006.

Hillwood is best known for its Alliance industrial development north of downtown Fort Worth, and the $420-million American Airlines Center near downtown Dallas.